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Pharoah budgets 4,000 hours of paint time in 2022 and will charge a profit of...

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Accounting

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Pharoah budgets 4,000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Pharoah is asked to prepare a price estimate to paint a small building. Pharoah estimates that this job will take 12 labor hours and $450.00 in paint. Compute the labor rate for 2022 . (Round answer to 2 decimal places, e.g. 52.75.) Labor rate $ Compute the material loading charge rate for 2022. Material loading charge % Prepare a time-and-material price estimate for painting the building. (Round answers to 2 decimal places, e.g. 52.75.)

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